UK judge: India trying to undo Devas award, lets firm join enforcement

There is “obvious merit” in allowing investors in Devas Multimedia to join proceedings aimed at enforcing the $1.2 billion arbitral award won by the satellite firm in 2015, a London judge noted last week, while observing what he termed as the steps being taken by India to make the award ineffective.

Judge David Waksman of the High Court of Justice on Friday concluded that the application by Devas (Mauritius) Ltd and other investors in the company to join the proceedings was “well founded”, especially since the satellite company has been placed in liquidation in India.

“(India), is taking steps both in India and around the world, in other places where the arbitral award has been registered as a judgment, to undo it, so that the award will become ineffective,” Judge Waksman noted. He was hearing an application made by Devas Multimedia America Inc, Devas (Mauritius) Ltd, Devas Employees Mauritius Pvt Ltd and Telcom Devas Mauritius Ltd, to join parties to the existing enforcement of the arbitral award. ET has reviewed the judgement.

One particular step is that it (India) has procured an order by the Indian National Company Court to place the claimant in liquidation,” the judge noted.